Economics & Business Archive

In early March, India’s national security adviser announced that Mauritius and Seychelles had expressed an interest in joining the trilateral maritime security cooperation arrangement among India, Sri Lanka and the Maldives known as IO-3. Should they join, it would mean the consolidation of an Indian maritime domain awareness network in the island states of the Indian Ocean region (IOR) where India has historically had influence. However, while these island states look to India to meet nontraditional security threats, India sees them primarily as sites for sensor chains that can monitor Chinese naval movements in the IOR. Indeed, India’s embrace of […]

When ailing Venezuelan President Hugo Chavez publicly anointed Nicolas Maduro as his desired successor a year ago, Chavez apparently forgot to hand over one element of his power: his more than 4 million Twitter followers. Chavez’s account, @chavezcandanga, has not posted a new message since Feb. 18, 2013, about two weeks before the populist leader’s death on March 5, 2013. The account retains Twitter’s coveted blue checkmark for “verified” accounts and, if anything, has gained followers since Chavez’s death. A triumphant press release issued by the Venezuelan Embassy in the U.S. a day after that final tweet noted that the […]

The continuing clashes between anti-government protesters and security forces in Venezuela are being watched with a view toward the national interest in Caribbean and Latin American countries, most notably Cuba, which is feeling the impact of the contest for Caracas with particular intensity. The fall of President Nicolas Maduro and the end of the policies instituted by his mentor, the late President Hugo Chavez, would have strong repercussions in the region. Even if Maduro holds on, the Chavista goal of exporting Venezuela’s “Bolivarian” revolution and bringing Chavez’s brand of “21st century socialism” to the rest of Latin America has already […]

With the United States and its allies ramping up the pressure on Russia over its annexation of Crimea, President Barack Obama spoke yesterday in Brussels at an annual summit between the United States and the European Union. Obama stated that the United States and other nations have an interest “in a strong and responsible Russia, not a weak one,” but he castigated Russia’s actions in Crimea and rejected Russian President Vladimir Putin’s rationales for Russian annexation of the territory. In particular, Obama rejected comparisons to NATO’s intervention in Kosovo or to the U.S. invasion of Iraq. While noting his own […]

Following a period of subdued and difficult relations between the European Union and China, Chinese President Xi Jinping’s first trip to Europe this week—which will include a stopover at the EU’s headquarters in Brussels, the first-ever such visit by a Chinese president—indicates that advances in ties made last year will continue into 2014. At the end of 2013, the two sides convened the High-Level Economic and Trade Dialogue for the first time since 2010, and the EU-China summit yielded a 2020 Strategic Agenda for Cooperation, a new EU-China Innovation Cooperation Dialogue and an agreement to launch negotiations on a bilateral […]

Last week, Saudi Arabia and China signed four agreements to expand bilateral cooperation and investment. In an email interview, Naser al-Tamimi, a Middle East analyst with a focus on Middle East-Asia relations, explained the recent trajectory of Saudi Arabia’s relationship with China and with East Asia more broadly. WPR: What has been the recent trajectory of Saudi-China relations, and what are the key areas of cooperation? Naser al-Tamimi: Energy and trade are at the heart of the growing links between Saudi Arabia and China. The bilateral relationship centers mostly on crude oil, petrochemical industries, refining, China’s cheap consumer goods and […]

Editor’s note: WPR Editor-in-Chief Judah Grunstein is filling in this week for Richard Gowan, who will be taking a leave of absence until June. As has become increasingly evident to observers of global politics over the past several years, we live in a Gramscian moment of systemic crisis, where in the interregnum between an old order on its deathbed and a new one not yet born, “a great variety of morbid symptoms appear.” The latest of these symptoms is on display in Ukraine, where Russia’s armed annexation of Crimea highlights the waning power of the post-Cold War liberal order, even […]

Acting Ukrainian Prime Minister Arseniy Yatsenyuk traveled to Washington on Wednesday to plead for urgent U.S. help for his country, especially emergency assistance in coping with the country’s dire economic straits. Yet two polls of U.S. public opinion released this week will be little comfort to those pundits who advocate a more assertive American foreign policy, particularly in dealing with the current crisis in Ukraine. The Pew Center released data indicating that 56 percent of Americans eschew any major U.S. involvement in Ukraine, especially in confronting Russia over the situation in Crimea. A related CNN poll reveals only 6 percent […]

Libyan Prime Minister Ali Zeidan was removed Tuesday after failing to stop a tanker from sailing away with an illicit shipment of Libyan oil. The event underscores the crucial role of the oil industry in the country’s current political instability, while further eroding initially optimistic expectations about Libya’s transition and the return to health of its oil industry. Not so long ago, the political and economic prospects for Libya looked brighter. The toppling of the Gadhafi regime in 2011 set the country on the path of a democratic transition. The oil sector, which is the backbone of the Libyan economy, […]

Late last month, Nigerian central bank governor Lamido Sanusi was suspended from office after alleging that $20 billion had disappeared from the state oil company. In an email interview, Wale Adebanwi, associate professor of African American and African studies at University of California, Davis and author of the 2012 book “Authority Stealing: Anti-Corruption War and Democratic Politics in Post-Military Nigeria,” explained the state of anti-corruption efforts in Nigeria. WPR: What is the state of Nigeria’s anti-corruption efforts under President Goodluck Jonathan? Wale Adebanwi: It is appalling. And this is not surprising because, even before Jonathan became president, he served as […]

No secular organization has ever peacefully deprived states of as much sovereignty as has the European Union. National autonomy to regulate the environment, labor, the professions, antitrust, consumer protection, food and product safety, agriculture, advertising and almost any other area one can think of, even highly sensitive ones such as criminal law and civil procedure, has been gradually constrained over the years by rules coming from the EU. Often the source of these rules is EU legislation, usually in the form of directives, which are laws that contain instructions to the member states to take certain action or implement certain […]

The way the Internet is governed is of strategic importance to modern society. Yet current Internet governance (IG) is not robust enough to address the Internet’s critical relevance. The revelations by former NSA contractor Edward Snowden about the deep reach of spy agencies online created a major earthquake in digital politics, showing the limitations of the existing Internet governance institutions in dealing with major economic and geopolitical tensions. Many governments, international organizations, think tanks and experts, have started a search for a new IG formula, moving the issue from the realm of engineers and geeks into the premier league of […]

Twenty years ago it was fashionable in academic circles to predict the end of sovereignty. It was also fashionable for people to take to the streets to protest the end of sovereignty. In both cases, trade occupied a central role. For academics and policymakers, the transition from the General Agreement on Tariffs and Trade (GATT), a messy, poorly defined system that was never an organization administering an agreement that was never a treaty, to the World Trade Organization (WTO), a carefully structured organization administering a phalanx of treaties, was a thing of wonder and the object of almost constant scrutiny. […]

In February, Mexico City lawmakers introduced two bills that would decriminalize and regulate the consumption of marijuana in the Mexican capital. Possession of marijuana for personal and medical uses would no longer be subject to incarceration as a first response, and legal marijuana dispensaries would be allowed in the capital. Mexico City’s move follows others in the U.S. states of Washington and Colorado, which approved initiatives by popular vote in late 2012 to legalize and regulate the personal use of marijuana for adults 21 and older, as well as commercial cultivation, manufacture and sale. Together with Uruguay, which became the […]

No, this is not a “war for oil,” to cite the old cliche. But behind all the maneuvering, speculation and strategizing in Russia’s conflict with Ukraine and the West, oil and gas reserves and the pipelines that turn them into cash lie in the background, just a step behind the principal action. Russia’s vast hydrocarbon stocks figure into the calculations of the major players, who worry Moscow may deploy them once again as a weapon. Oil has played a decisive role in the arsenal of geopolitical disputes. And Russia has proved willing to use its massive exports of natural gas […]

Iranian President Hassan Rouhani was elected in June 2013 on a ticket of change, amid hope for improvements in both domestic and foreign affairs. His constituents were, and still are, hoping for an easing of the political atmosphere, a less stifling environment on university campuses, a more predictable and stable style of governance and, most importantly, a reversal of the economic decline that has impoverished Iranians in the past 3-4 years. In many ways, most of the promises on this electoral laundry list hinge on the last item—turning the Iranian economy around. This plays into but is not the sole […]

Strengthening Britain’s bilateral relationships throughout Latin America has become a strategic priority under the U.K.’s current government. Nowhere is this more evident than in Brazil, Colombia and Mexico, where recent visits by senior British officials highlight enhanced collaboration in the spheres of security and economic cooperation. Yet as Britain looks to build upon these successes, it must overcome some major hurdles if it is to truly unlock the wealth of potential opportunities available to it throughout the wider region. In February 2014, U.K. Foreign Secretary William Hague undertook his first official trip to Colombia, marking the latest episode in what […]